Morning journal and courier. [volume] (New Haven [Conn.]) 1848-1894, 1887-01-08
News by Telegraph
FROM ALL QUARTERS.
THE BUSINESS OUTLOOK.
A Good Showing Starting
The Year.
THE DOODLE IN CONGRESS.
Randall To Call The ReVe-
nue. Bill.
the CASE OF MRS. EN- MONS.
A Fashionable Divorce Suit
At Newport.
THE STATE OF BUSINESS.

A Very Favorable Showing at the
Opening of the New Year.
NEW YORK, Jan. 7.-R. G. Dun & Co.'s
weekly review of trade says: The new year
opens with higher prices. Wheat has ad-
vanced 1-2 cents this week on sales of 49,
900, 900 bushels. Oil has advanced one cent
on sales of one million barrels; cotton rises
1-16; hogs. coffee, iron and silver are higher.
Corn aud oats h ave been little weaker and
large realizing by foreigners has checked the
tendency to advance in stocks. But the ex-
pansion Of the currency and the investment
of large dividends received and large profits
realized tend to lift prices for the present in
spite of fears regarding legislation. Since
August the treasury has added $22, 497, OSS
to the gold certificates outstanding and $780,
6S2, 626 to the silver certificates and about
81, O00, 900 to the standard silver dollars.
Bank circulation has decreased SO, 800, 461
and the legal tenders not in the treasury
have diminished 81 ,250, 1874. Thus net adj
dition of about $4s ZOO, 900 to the currency
has been made in five months, over 1-2 per
cent, not counting the addition to the gold
in circulation. Following an expansion of
$500, 900, 900 since 1878 this makes the circu-
1ation per capita the largest ever reached.
1t is now to be noticed that
silver dollars begin to go back to the treas
ury in place of the small certificates Issued
and the government during the past week
has taken in as much money as it has
paid out in spite of the half-yearly interest
payments Consultations at Washington
make a reduction of the revenue at this ses-
sion improbable and the accumulation of
surplus threatens disturbance after July 1.
Over eight thousand miles of railway were
built last year, only one thousand FIVE hum
bred i'll eastern and southern States and
over four Thousand miles in Kansas, Nebras-
ka, Dakota, Minnesota and Texas. Hence
the rise in iron. Prices advanced 81 on
Wednesday at Pittsburg. The associations
official report makes the output 1850, 600
tons for the last half of 1886. This power
full impulse toward prosperity, merchants
fear, would be taken away if the passage of
the Interstate commerce bill should dis
courage railroad building. In business Cir
cles the apprehension of a back as
consequence of high through rates
for western products and an arrest of rail-
road building strongly influences calculations
for the future. The failure of large cattle
ton as to the evils of over production and
control of transportation lines. In the
Southwest failures have been unusually nu-
merous; in other sections not more than
might have been expected for the first week
of the year. Collections are generally salts
factory and the increasing number of buyers
gives greater activity here in the dry goods
trade Coal advances because of an impor-
tant strike of handler Boston shipments of
boots and shoes for 1886 were 2, S75, 316 cases
against 2,67S 1854 in 1885, Wool sales at
Philadelphia were 100000 pounds less
than in 1885, but New York imports of
foreign wool were Is, 900,0 900 pounds larger.
Higher prices here for wheat and cotton also
imply the belief that production will be cur
tailed next year as result of unsatisfactory
returns to farmers. The railroad earnings in
Decem Der on twenty-One roads exceed those
of 1885 about thirteen per cent. and bank
exchanges for the year show larger transac-
lions than ever, excepting in parts or the
South. But the railway foreclosures as re-
ported by the Chicago Age exceeded in 1886
those of any previous year. The late decision
of an Ohio court invalidating the first mort
gage on the Nickel Plate road is used to
excite distrust of foreign investors, ap-
parently with some effect. Foreign ex-
change has advanced and shipments of gold
hither suspended. But Colorado reports
the output of precious metals 81 ,294, 68S
greater in 1886 than in 1885.
The business failures occurring through
out the country during the last seven days
number for the United States 271, and for
Canada %, or total of 300, as compared
with a total of 273 last week and 1858 the
week previous to the last. The increase no
ticed in the number of casualties arises in
the South where the failures are exception
ally numerous though not important. The
assignments in New York are few and of
little consequence.